secwatch.observer — SEC 8-K summary
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Issuer:     TruGolf Holdings, Inc. (TRUG)
CIK:        0001857086
Form:       8-K
Filed at:   2025-04-23T23:59:59+00:00
Accession:  0001641172-25-005787
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TruGolf restructures $15.5M PIPE notes/warrants into Series A preferred; converts $3.9M notes
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- Exchanged PIPE warrants for 1,885 shares of Series A preferred stock and a warrant for 37,033 Series A preferred shares.
- Outstanding PIPE convertible notes (up to $15.5M) to be exchanged into Series A preferred shares; conversion price set at $1.00.
- Converted $3.9M in outstanding notes (Nov 2022) into 8.28M Class B shares and 4.23M Class A shares at $0.31204 per share.
- Series A preferred pays 10% annual dividend (15% if paid in stock); stated value $1,000 per share; senior to all common.
- Company must hold stockholder meeting within 90 days to approve shares underlying Series A preferred for Nasdaq listing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1857086/000164117225005787/0001641172-25-005787-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1857086/000164117225005787/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-005787

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